This is a cross-border case governed by Canadian laws under the CCAA. Those are the laws that need to be cited.
Now, they may very well follow the same hierarchy as US Chapter 7 Bankruptcy laws, (which this isn't), but currently we have yet to see cited one single Canadian law under the CCAA which is equivalent to the US Laws in regards to the hierarchy of distribution protocol, namely that shares become cancelled if any stakeholders up the chain are "impaired".
Additionally, I'm not sure I understand what you mean when you say I can live in "pinky fantasyland". Since you referenced me as a person, (versus the topic at hand), can you please elaborate and help me understand what that has to do with either the CCAA or US Bankruptcy laws as it pertains to this specific case with BioAmber Inc.?
